Thursday 10 April 2014

Pre-Market Brief

Good morning. Futures are moderately lower, sp -4pts , we're set to open around 1868. Metals are showing some strength, Gold +$13, whilst the USD is flat. Equity bears should be seeking a weekly close no higher than the 1860s, whilst bulls should be very content with anything in the 1870s.


sp'60min


Summary

*with sig' QE-pomo later this morning, bulls have some help to at least forestall the next down wave.
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Weekly thresholds

On the rainbow chart..the thresholds are roughly...

Green, 1870s
Blue 1860-1840
Red <1838

sp'weekly7


Certainly, I do not want to see a closing weekly green candle. Indeed, I would only feel confident for next week, if we get back under the 10MA again..currently @ 1851.
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Video update from Mr Carboni



Obviously, the sand line is 1897, any move above that, and I will start to take those Green omni's seriously. Until then, we remain in chop zone of 1890-1830s.

My question to Oscar though - whilst he is super bullish, 'what about recent unraveling of the R2K and Nasdaq'?

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Long day ahead....good wishes for Thursday trading!


9.34am.. first upside target for the VIX are 14.50s..any daily close above there..would be a start.